In late February, the group said it had acquired Spire Secure Logistics Inc, which specialises in security and has expertise in the cannabis industry. It closed the deal this month.

READ: Friday Night diversifies portfolio as it acquires security firm

Spire is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

"The Spire team brings decades of experience in the trenches of law enforcement, security and high-stakes risk management," said Brayden Sutton, chief executive at Fright Night.

"Spire works with companies who want to make an honest dollar in a secure, compliant, law-abiding cannabis industry," Richards, a 34-year law enforcement veteran who has led numerous high-profile investigations of organised drug crime, had said.

READ: Friday Night poised for future expansion as it closes land purchase deal

For over half his career, Richards specialised in complex organised crime investigations and led many successful major projects, most with an international component.

Friday Night shares zipped up 5.63% to C$0.75 in Toronto.

]]>Thu, 08 Mar 2018 12:00:00 -0500http://www.proactiveinvestors.com/companies/news/192875/friday-night-welcomes-spire-secure-logistics-chief-to-board-192875.htmlhttp://www.proactiveinvestors.com/companies/news/192690/friday-night-poised-for-future-expansion-as-it-closes-land-purchase-deal-192690.html
Recreational cannabis-focused group Friday Night Inc (CNSX:TGIF, OTC:TGIFF) continues to make progress with long term plans - as it closed on a previously announced land purchase agreement in Nevada.

The purchase is of a further 2.78 acres of land which is contiguous to the current location that will host subsidiary Alternative Medicine Association's (AMA's) new cultivation facility.

READ: Friday Night completes acquisition of Spire Secure Logistics

AMA now owns 4.17 acres of land on a major thoroughfare in the city of Las Vegas, which includes the original plot of 1.39 acres that has already received a special use permit for cannabis cultivation and a building permit for its future 67,000 sq ft cultivation facility, the firm said.

Mark Zobrist, the managing partner of Alternative Medicine Association, said: "The additional land will allow for future expansion of the cultivation facility as well as a new production facility when needed.

"It could also be used as the location for a retail dispensary license application if the company decides to apply when that window opens again.

"This acquisition gives us a strategic advantage and flexibility for our long-term plans to meet the market demand as it grows."

Friday Night owns 91% of AMA, which is a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of cannabis-based products and manufactures other third-party brands.

Earlier this month, the firm closed its previously announced acquisition of Spire Secure Logistics - a group, which specialises in security is an expert in the cannabis industry.

Friday Night issued 7.69mln common shares to the shareholders of Spire at a deemed price of 65 cents a share.

Spire has strengthened its team with the appointment of Tim Humberstone, a former law enforcement leader and someone who is regarded as an expert in Canada's regulated cannabis sector.

Humberstone will be Spire's chief strategy officer, charged with leading Spire's growth in Ontario.

“I’ve been courted by a lot of companies in the cannabis sector,” said Humberstone.

“It’s no accident I chose to join the team at Spire Secure Logistics. Spire has been quietly establishing a presence across Canada, and I’m excited to take the lead in Ontario,” he added.

]]>Fri, 02 Mar 2018 12:00:00 -0500http://www.proactiveinvestors.com/companies/news/192547/friday-night-completes-acquisition-of-spire-secure-logistics-192547.htmlhttp://www.proactiveinvestors.com/companies/news/192299/friday-night-shares-advance-as-it-pulls-infused-mfg-business-spin-out-192299.html
Recreational cannabis focused group Friday Night Inc. (CNSX:TGIF) saw its shares advance over 7% on Tuesday as it said it had decided to indefinitely postpone the spin out of its Infused MFG business.

Infused is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and Friday Night bought a 91% stake last year.

Friday Night unveiled the spin-out plan last month.

"Infused's Canna Hemp brand has seen strong demand in the California market since the state-level legalisation on January 1, 2018," said Friday Night.

The California cannabis market is currently estimated to be worth US$8.5bn, it added.

Canna Hemp products are now selling in 15 retail locations in California and Infused has recently hired two additional sales representatives to expand on its distribution network.

In today's statement, TGIF said: "After careful review of the evolving Las Vegas market and the success in the California market, the company has decided to indefinitely postpone the spin out of Infused MFG.

"Management believes Infused and the Canna Hemp brand will continue to show strong growth and success in new markets and will provide value to the shareholders of Friday Night."

By adding this business to its portfolio, Friday Night says it is diversifying its income stream and achieving exposure to international markets.

Friday Night will issue 7.14mln shares at a deemed price of 70 cents per share and closing of the deal is expected on March 1 this year.

Friday Night will allocate working capital of C$1mln to expand Spire's client base in Canada and globally.

Shares issued will be subject to an escrow arrangement that will see 12.5% released from escrow on closing and the remaining 87.5% being released to the vendors in seven equal tranches of 12.5% beginning on May 1 this year.

Spire is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

"The Spire team brings decades of experience in the trenches of law enforcement, security and high-stakes risk management," said Brayden Sutton, chief executive at Fright Night.

"Spire works with companies who want to make an honest dollar in a secure, compliant, law-abiding cannabis industry," added Spire chief executive Andy Richards, a 34-year law enforcement veteran who has led numerous high-profile investigations of organised drug crime.

"Whether it's regulatory applications, security procedures, or working hand-in-hand with government and law enforcement, our team has the right skills, connections and experience to deliver."

When the deal closes, Richards will also join the Friday Night board of directors, the firm added.

Friday Night Inc shares shed 8.47% in Toronto to stand at C$0.54.

]]>Mon, 26 Feb 2018 13:57:00 -0500http://www.proactiveinvestors.com/companies/news/192208/friday-night-diversifies-portfolio-as-it-acquires-security-firm-192208.htmlhttp://www.proactiveinvestors.com/companies/news/192012/friday-night-and-body-and-mind-agree-to-terminate-letter-of-intent-192012.html
Friday Night Inc (CNSX:TGIF) said its letter of intent to buy cannabis grower Body & Mind Inc (BAM) in an all-share deal, which was announced in December, had been terminated.

"After careful review of the Body and Mind transaction and current market conditions, Friday Night and Body and Mind have mutually determined the acquisition of Body and Mind under the terms of the LOI would not be in the best interests of shareholders, and as a result, the LOI has been terminated by both parties," Friday Night said in a statement.

"Market conditions and the revised consideration proposal to our shareholders played a role in the decision to mutually terminate the proposed amalgamation plan," added Body and Mind chief executive Leonard Clough.

Friday Night shares eased 1.47% in Toronto to C$0.67.

]]>Wed, 21 Feb 2018 15:02:00 -0500http://www.proactiveinvestors.com/companies/news/192012/friday-night-and-body-and-mind-agree-to-terminate-letter-of-intent-192012.htmlhttp://www.proactiveinvestors.com/companies/news/191467/friday-night-welcomes-clarification-on-disclosure-requirements-from-csa-191467.html
Recreational cannabis firm Friday Night Inc (CNSX:TGIF) has welcomed the clarification from the Canadian Securities Administrators on disclosure requirements for Canadian companies with US marijuana assets.

The Canadian Securities Administrators (CSA) issued a clarification document in which it acknowledged that the political and regulatory circumstances surrounding the treatment of US marijuana-related activities are uncertain.

“In the event that US federal law against marijuana is enforced, there could be material consequences for any issuer with US marijuana-related activities, including prosecution and asset seizure,” the CSA said.

The CSA said it expects issuers operating in the marijuana industry to carefully consider any legal or regulatory actions or changes in order to determine whether they would result in material changes that trigger timely disclosure obligations.

The CSA gave some specific disclosure requirements in its reference document, including the need to describe the nature of the issuer's involvement in the US marijuana industry and to prominently state that marijuana is illegal under US federal law, and thus there is an element of risk should the law be enforced.

"We commend the CSA for providing clarification on disclosure requirements for Canadian companies with US cannabis assets, and we are committed to maintaining transparent disclosure documents to all our investors" said Brayden Sutton, the chief executive officer of Friday Night.

A business graduate of the British Columbia Institute of Technology, Watt has already played a significant role in the success and growth of the company during his time as executive vice-president, the firm noted.

In the same statement, Friday Night thanked director Brian Keane for his contributions over the past year and wished him well in his future endeavours.

CFN Media Group is upbeat on Friday Night Inc (CNSX:TGIF), which has moved to double its existing cannabis production capacity, and represents a unique opportunity within the burgeoning industry.

Acquisitions

Last week, Friday Night was the subject of a bullish article from CFN Media, a creative agency dedicated to legal cannabis.

It noted the firm's move to double its cultivation footprint in Nevada through two possible acquisitions, while divesting its CBD (cannabidiol) assets.

It says that Friday Night last month, announced that it would buy Body & Mind Inc in an all share deal.

"With approximately 130,000 sq ft of facility projects under development, the acquisition will make the combined company one of the largest cultivation and production companies in Nevada."

Friday Night has also announced a letter of intent to acquire Harvest Foundation LLC, a 10,000sq ft cannabis cultivation facility adjacent to its Alternative Medicine Association (AMA) property, for US$1mln in cash, 10mln shares and warrants.

"AMA was the very first cannabis cultivator licensed in Las Vegas and has developed a leading brand in the city and throughout Nevada," highlighted CFN.

]]>Mon, 05 Feb 2018 10:14:00 -0500http://www.proactiveinvestors.com/companies/news/191163/friday-night-adds-cameron-watt-to-board-191163.htmlhttp://www.proactiveinvestors.com/companies/news/190936/friday-night-represents-unique-opportunity-within-burgeoning-cannabis-industry-says-cfn-media-190936.html
CFN Media Group is upbeat on Friday Night Inc (CNSX:TGIF), which has moved to double its existing cannabis production capacity, and represents a unique opportunity within the burgeoning industry.

The recreational cannabis focused group has moved to double its cultivation footprint in Nevada through two possible acquisitions, while divesting its CBD (cannabidiol) assets, noted CFN Media, which is a creative agency dedicated to legal cannabis.

It says that Friday Night last month, announced that it would buy Body & Mind Inc in an all share deal.

"With approximately 130,000 sq ft of facility projects under development, the acquisition will make the combined company one of the largest cultivation and production companies in Nevada."

Friday Night has also announced a letter of intent to acquire Harvest Foundation LLC, a 10,000 sq ft cannabis cultivation facility adjacent to its Alternative Medicine Association (AMA) property, for US$1 million in cash, 10mln shares and warrants.

"AMA was the very first cannabis cultivator licensed in Las Vegas and has developed a leading brand in the city and throughout Nevada," highlights CFN.

"Increased production capacity could allow the company to expand sales of its established brands. The company’s products include Vegas J’s pre-rolls and strains with the highest THC percentages in the state.

"It also is the official Nevada producer of products like Vader Extracts, Spectrum Concentrates, and The Real Kurupt’s Moonrocks."

Friday Night plans to divest its Infused MFG business to focus on its cultivation efforts.

The firm told investors it had struck a letter of intent to acquire 100% of the Harvest Foundation - a cultivation facility, which lies next to Friday Night's production subsidiary Alternative Medicine Association (AMA) in Las Vegas, Nevada.

READ: Friday Night advances as it unveils plans to spin out Infused MFG

AMA currently manages the Harvest facility, which is around 10,000 sq ft (square feet) under contract.

"Integrating the Harvest Foundation license and facility into our business is a huge milestone and this new license effectively doubles our current cultivation capacity," said Brayden Sutton, the president and chief executive of Friday Night.

The purchase price is US$1mln plus 10mln common shares in Friday Night and one fifth of a stock purchase warrant.

Each whole warrant will be priced at 120% of the market price at closing, said Friday Night.

The shares will be escrowed over 36 months.

Yesterday, shares in Friday Night advanced as it updated investors on its Body and Mind Inc acquisition and unveiled a plan to spin out the Infused Mfg subsidiary.

]]>Tue, 16 Jan 2018 09:36:00 -0500http://www.proactiveinvestors.com/companies/news/190112/friday-night-shares-lifted-again-as-it-unveils-deal-to-potentially-double-current-cultivation-capacity-190112.htmlhttp://www.proactiveinvestors.com/companies/news/190048/friday-night-advances-as-it-unveils-plans-to-spin-out-infused-mfg-190048.html
Shares in recreational cannabis focused group Friday Night Inc (CNSX: TGIF) advanced on Monday as it updated on its Body and Mind Inc acquisition and unveiled a plan to spin out Infused Mfg.

Infused is a Nevada-based firm that provides legal hemp-derived and cannabidiol (or CBD) products, and Friday Night bought a 91% stake last year.

Friday Night said it had struck an agreement in principle with the holder of the 9% interest of Infused and its other subsidiary Alternate Medicine Association (AMA).

The deal would see an exchange of the minority interest in AMA for an interest in Infused MFG, which would then be spun out as a separate publicly traded company.

Friday Night reckons Infused MFG and its Canna Hemp brand has been successfully built and the "time is right" for a separate management team to expand on its success.

Also, it could thrive on its CBD products alone, so its spin out gets rid of any volatility associated with USA cannabis based businesses. currently.

Friday Night shareholders will receive one Infused share for each four TGIF shares they own.

In addition, TGIF has agreed to back an initial private placing, so the new company has sufficient cash to both expand and to make strategic acquisitions when available.

Last month, Friday Night said it would buy cannabis grower Body & Mind Inc (BAM) in an all share deal worth C$115mln, which will make the merged company among the largest cultivation and production companies in the US state of Nevada.

BAM was awarded one of the first Nevada state medical marijuana licenses for both cultivation and production.

Today, the firm said both firms expect to strike a definitive agreement imminently and after negotiations, the implied value of the BAM shares has now been adjusted to an implied value of $1.65 per share or a ratio of 1.65:1 for each BAM share held.

The deal remains subject to the approval of BAM shareholders, among others.

Friday Night shares added 6.38% in Toronto to C$1.

]]>Mon, 15 Jan 2018 12:00:00 -0500http://www.proactiveinvestors.com/companies/news/190048/friday-night-advances-as-it-unveils-plans-to-spin-out-infused-mfg-190048.htmlhttp://www.proactiveinvestors.com/companies/news/189666/friday-night-and-ianthus-capital-holdings-suggest-action-unlikely-after-us-govt-s-cannabis-memo-189666.html
US-focused cannabis firms have come out suggesting action is unlikely following the US Department of Justice's (DOJ) decision last week on how to deal with the pot industry.

US Attorney General Jeff Sessions said he was rescinding policy brought in by former President Obama, which offered protection to states that have legalized marijuana as long as they follow guidelines.

READ: High times for cannabis stocks as California becomes sixth state to sell drug for recreational use

Nevada and recreational weed focused Friday Night Inc (CNSX:TGIF) noted that the memo, known as the Cole memo, was intended "solely as a guide," not a directive, and leaves the enforcement decisions up to the U.S. Attorneys in their respective states.

"Friday Night believes that given the lack of direction in the memorandum and the support of the Trump administration of states' rights, the authorities will defend the states' rights to regulate, not criminalize cannabis," it said in a regulatory statement.

The company added that it considers it unlikely that local federal prosecutors will take action in those states where the legalization of cannabis has already been implemented.

Friday Night added that it does not expect any material changes to its current and future initiatives and it will continue with expansion plans in and outside Nevada.

READ: iAnthus Capital argues against turning the clock back 20 years on marijuana laws

Meanwhile, iAnthus Capital Holdings Inc (CNSX:IAN) said on Friday: "The regulated marijuana industry has created tens of thousands of American jobs and provided hundreds of millions of dollars in needed tax revenue to state and local governments, while at the same time serving to disintermediate the black market that has existed since the beginning of the federal marijuana prohibition.

"Turning the clock back 20 years and reopening the door to criminal cartels are counterproductive and serve no practical purpose."

The firm added: "... we would expect that today's action will have little or no material impact on federal prosecution priorities in states that have adopted regulated medical and/or adult-use marijuana programs."

iAnthus shares gained 7.91% on the day to C$3.41, while Friday Night Inc eased around 5% at C$0.93.

]]>Mon, 08 Jan 2018 09:00:00 -0500http://www.proactiveinvestors.com/companies/news/189666/friday-night-and-ianthus-capital-holdings-suggest-action-unlikely-after-us-govt-s-cannabis-memo-189666.htmlhttp://www.proactiveinvestors.com/companies/news/189415/friday-night-shifting-gears-down-in-nevada-as-californian-recreational-market-comes-on-stream-189415.html
Friday Night Inc (CNSX:TGIF) is undoubtedly enjoying success and investor support as it taps into the burgeoning recreational cannabis market in the US state of Nevada.

Shares have rocketed almost 315% in the last three months alone to stand at C$0.83.

That's not bad for a firm, which only started life in its present guise as Friday Night Inc in June last year. It was formerly Quikflo Health.

And news now that neighbouring California has become the sixth US state to allow the sale of recreational marijuana can only enhance and bolster the firm's prospects within a growing industry.

Canna Hemp and California..

Indeed, its Canna Hemp line has received multiple purchase orders from several California retailers, marking the first step of the firm's bid to expand it brand into the state.

California is expected to become one of the largest cannabis markets in the world.

Nevada got the recreational green light in July 2017, while medical pot was approved in the state in 2013.

The new Friday Night last year bought a 91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer - only the second firm to get such a licence in Nevada and the very first in Las Vegas.

It already had sales of US$200,000 a month when acquired and the firm is now looking to increase AMA's growing facilities as the market rapidly grows.

The group also acquired a 91% stake - is Infused Mfg - a company that provides legal hemp-derived and cannabidiol (or CBD) products.

Increasing the AMA operation..

Last August, Friday Night struck a deal to buy 1.39 acres of land for US$432,000 in Clark County to increase the AMA operation and today announced a further expansion as it struck an agreement to buy a further 2.78 acres directly connected to the site.

"This will allow Friday Night to expand its cultivation center in phases and can accommodate an additional 150,000 square feet of cultivation space as more supply is needed in the rapidly expanding Las Vegas market," the company said.

What's more, just before Christmas, the firm revealed it was set to buy Body & Mind Inc (BAM) in a game-changing all share deal worth C$115mln.

It reported that it would make the merged company among the largest cultivation and production companies in the US state of Nevada.

Body & Mind Inc produces flower, oil extracts and edibles at its current facility and expects within the latter part of 2018 to be in facilities providing around 50,000 square feet and has around 130,000 square feet of facility projects under development.

Also in December, the firm inked a production deal with a major dispensary chain in Nevada.

The chain will supply trim as a raw material to the group's production subsidiary AMA, who will extract and process the materials into high grade concentrates. This is key because raw material is in short supply.

First quarter numbers cheer..

First quarter results posted last month underlined the strength of the opportunity in Nevada.

Gross revenue for the three months to end October was around C$2.5mln, with gross profit at around C$1.33mln. The group had cash at the end of the period of C$5.6mln.

"Our team has worked incredibly hard to achieve such great results, and as we fine tune operations and expand our facilities and partnerships within and outside the state, we are getting very close to becoming cash flow positive," said Brayden Sutton. chief executive.

The firm said the cannabis market in Nevada had grown dramatically since recreational use was approved at the beginning of July and the firm believes revenue growth will continue.

The firm is projecting production facility sales of $5mln for 2017; $20 mln for 2018, and $50 million in production sales in 2019.

Meanwhile in California, sales of the drug for recreational use kicked off on Monday after Californians voted to legalise it in 2016.

The state of California as a whole is expected to rake in a whopping US$7bn from marijuana sales in a few years, compared to US$6.6bn of the entire market in the country in 2016, according to New Frontier Data, which tracks the cannabis industry.

"Cannabis is now legal in the most populous state in the country," said New Frontier in its annual report.

This "dramatically” increases the total potential size of the industry, it added.

California is home to 40 million people and has 165 million visitors a year.

It has moved to double its cultivation footprint in Nevada through two possible acquisitions, while divesting its CBD (cannabidiol) assets, it said in an article.

Last month, Friday Night announced that it would buy Body & Mind Inc in an all share deal, making the combined company one of the largest cultivation and production companies in Nevada.

It has also announced a letter of intent to acquire Harvest Foundation LLC, a 10,000 sq ft cannabis cultivation facility adjacent to its Alternative Medicine Association (AMA) property, for US$1 million in cash, 10mln shares and warrants.

"After acquiring new cultivation space in Nevada, the company is positioned to more than double its existing production capacity in the near-term," said CFN.

"Management’s plans to spin out the Infused MFG business could also help unlock value by enabling new management to focus squarely on CBD and investors to better value each component."

It has struck an agreement to buy a further 2.78 acres directly connected to the site where its growing subsidiary AMA has its planned new cultivation facility.

The price for the land in Clark County is US$834,000.

All documents have been signed and the escrow has been opened with a US$25,000 money deposit. Closing is expected within 85 days or sooner.

"This will allow Friday Night to expand its cultivation center in phases and can accommodate an additional 150,000 square feet of cultivation space as more supply is needed in the rapidly expanding Las Vegas market," said John Goss, president of the company's wholly owned subsidiary in Nevada, FN Management Services.

"It would also allow us to expand our existing production and extraction facilities if desired. This is a great investment in our future in this market."

Friday Night Inc also said in today's statement that around C$5mln has been raised over the last two months through existing warrants, most of which were exercised at 30 cents a share.

The company estimates that there is another C$4mln in funds that will potentially come in on additional exercises.

Holders of around C$2mln of a total of C$5mln in debentures have now chosen to convert into shares at 25 cents a throw.

The company notes that it could accelerate the expiry date and force conversion of remaining warrants and debentures, but if the current rate of exercises continues, it does not expect needing to do so.

It was in August last year that Friday Night struck a deal to buy 1.39 acres of land for US$432,000 in Clark County (now increased by today's announcement), which includes areas that could be used to grow marijuana.

The acquisition included a 33,000-square-foot footprint for a building with footings already poured and full perimeter security fences, water hookups for the full sprinkler system throughout the future warehouse and 2,000 amps of power.

It also secured an estimate from NV Energy to provide an additional 4,000 amps of power, which would support a two-storey cultivation of up to 66,000 sq ft of canopy.

Friday Night shares added 1.72% to C$1.18 each.

]]>Tue, 02 Jan 2018 09:50:00 -0500http://www.proactiveinvestors.com/companies/news/189409/friday-night-set-to-increase-cultivation-capacity-in-nevada-as-it-buys-more-land-in-clark-county-189409.htmlhttp://www.proactiveinvestors.com/companies/news/189188/friday-night-poised-to-buy-cannabis-grower-body-mind-in-c115mln-deal-189188.html
Friday Night Inc (CNSX: TGIF) is set to buy cannabis grower Body & Mind Inc (BAM) in a game-changing all share deal worth C$115mln, which will make the merged company among the largest cultivation and production companies in the US state of Nevada, sending shares soaring again.

The deal is expected to be immediately cash flow accretive to Friday Night.

READ - Friday Night shares flying as it posts first quarter results

BAM was awarded one of the first Nevada state medical marijuana licenses for both cultivation and production.

It produces flower, oil extracts and edibles at its current facility and expects within the latter part of 2018 to be in facilities providing around 50,000 square feet.

With around 130,000 square feet of facility projects under development, the deal will make the merged company among the largest growers in Nevada.

"This transaction helps advance Friday Night into a leading position in what many believe is one of the best cannabis markets in the world, said Brayden Sutton, Friday Night Inc's chief executive.

"We welcome the Body & Mind shareholders and staff to the Friday Night family and are excited about having Robert Hasman head up the expanded organization as president."

Hasman, BAM president, added: "This is a meaningful win for our stakeholders but is only the beginning of consolidation here in Nevada.

"The financial strength of a combined entity will enable us to continue to do more transactions at a rapid pace with the ultimate goal of driving down costs, expanding product lines, and servicing our customers."

READ - Friday Night expands brand into California

Friday Night is going from strength to strength.

Yesterday, it saw shares race up on the back of its first quarter results, which showed the strength of the market it is tapping into.

Gross revenue for the three months to end October was around C$2.5mln, with gross profit at around C$1.33mln.

The group had cash at the end of the period of C$5.6mln.

"These results prove how large our footprint is becoming and attest to how healthy the market is in Nevada," Sutton told investors.

Shares in Toronto zoomed up 37% to C$1.37 each on Thursday, having surged 30% on Wednesday.

Gross revenue for the three months to end October was around C$2.5mln, with gross profit at around C$1.33mln.

The group had cash at the end of the period of C$5.6mln.

"These results prove how large our footprint is becoming and attest to how healthy the market is in Nevada," said Brayden Sutton, the firm's chief executive.

"Our team has worked incredibly hard to achieve such great results, and as we fine tune operations and expand our facilities and partnerships within and outside the state, we are getting very close to becoming cash flow positive."

The cannabis market in Nevada has grown dramatically since recreational use was approved at the beginning of July and the firm believes revenue growth will continue.

In June, 2017, the firm announced the purchase of a 91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer - the second firm to get such a licence in Nevada and the very first in Vegas.

It also acquired a 91% stake in Infused Mfg - a company that provides hemp-derived and cannabidiol (or CBD) products.

Highlights of the first quarter included AMA inking an exclusive license agreement with 'Krypted', a vaping brand from California, to increase its Nevada offerings.

The group also struck a land purchase agreement to expand the AMA facilities.

Yesterday, the firm revealed it had hired CFN Media to conduct a four-month investor and market visibility program, which began on December 13.

CFN Media will leverage its reach to mainstream and cannabis-focused investors and media across North America.

On Wednesday, shares in TGIF added over 29% to stand at C$1. Three months ago shares were at C$0.18.

]]>Wed, 20 Dec 2017 12:27:00 -0500http://www.proactiveinvestors.com/companies/news/189112/friday-night-shares-flying-as-it-posts-first-quarter-results-189112.htmlhttp://www.proactiveinvestors.com/companies/news/188898/friday-night-expands-brand-into-california-188898.html
Friday Night Inc's (CNSX:TGIF) Canna Hemp product line is now being sold to cannabis dispensaries and other retail outlets in the State of California.

Canna Hemp has received multiple purchase orders from several California retailers, marking the first step of Friday Night's campaign to expand its brand into the California cannabis market.

California is expected to become one of the largest cannabis markets in the world, sales of cannabis to adults becomes legal in January of next year.

California is home to 40 million people and has 165 million visitors a year.

“Getting our Canna Hemp brand into the California market is an important step at penetrating the rest of the USA. California is anticipated to be the hub for nationwide cannabis brands,” said Canna Hemp’s director of operations, Chris Rebentisch.

Shares in Friday Night rose 8.5% to C$0.77 on the news.

]]>Fri, 15 Dec 2017 11:01:00 -0500http://www.proactiveinvestors.com/companies/news/188898/friday-night-expands-brand-into-california-188898.htmlhttp://www.proactiveinvestors.com/companies/news/188675/friday-night-starts-life-trading-on-otcqb-index-188675.html
Recreational cannabis group Friday Night Inc. began trading today in New York - on the OTCQB index.

The stock, changing hands under the symbol 'TGIFF', was up over 21% to US$0.4838 in New York.

READ - Friday Night looking in fine form as it inks trim production deal
READ - Friday Night posts revenue of $1mln in first weeks as Nevada focused cannabis firm

The firm received approval for the change after it supplied the OTC Markets with all required documents, including audited financial statements for the last two years.

“Advancing our listing tier to the OTCQB is a great step in our development as it increases our awareness in the USA," said Joe Bleackley, Friday Night Inc.s director of corporate communications.

"We take pride in delivering accurate and current information to our shareholders and the OTCQB listing will bring a new level of investor confidence in Friday Night Inc."

The group owns and controls cannabis and hemp based assets in Las Vegas, Nevada, where it is bidding to exploit the recreational cannabis market.

It owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.

It also owns 91% of Infused MFG, which generates hemp-based, CBD products, and high quality organic botanical ingredients.

There's been plenty of newsflow in recent weeks and last week, the group inked a production deal with a major dispensary chain in Nevada.

The chain will supply trim as a raw material to the group's subsidiary AMA, which will extract and process the materials into high grade concentrates.

Trim is defined as the excess snipping of leaves from the buds of marijuana plants and the dispensary will provide a minimum of 100 pounds per month.

AMA estimates it will then produce over 20,000 half-gram units every month.

Friday Night Inc.posted around US$1mln of revenue and gross profit of $230,714 in the last six weeks of the fourth quarter in its year to July 31.

It said it's now building on these numbers and is due to announce first quarter results in December (this month).

The chain will supply trim as a raw material to the group's production subsidiary AMA, who will extract and process the materials into high grade concentrates.

Trim is defined as the excess snipping of leaves from the buds of marijuana plants and the dispensary will provide a minimum of 100 pounds per month.

AMA estimates it will then produce over 20,000 half-gram units every month.

"We have the lab and the expertise, so this agreement fits our business operations perfectly in an environment where raw material is in short supply," said AMA’s head of extraction.

"The first batch of raw material (trim) has been delivered to AMA, weighed more than 150 pounds and tested showing excellent results."

Recently formed - Friday Night revealed last week that it posted around US$1mln of revenue and gross profit of $230,714 in the last six weeks of the fourth quarter in its year to July 31.

It said it's now building on these numbers and will announce first quarter results in December (this month).

In June this year, the firm announced the purchase of a 91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer - the second firm to get such a licence in Nevada and the very first in Vegas.

It also acquired a 91% stake in Infused Mfg - a company that provides hemp-derived and cannabidiol (or CBD) products.

Shares were unchanged at C$0.44 each.

]]>Wed, 06 Dec 2017 09:22:00 -0500http://www.proactiveinvestors.com/companies/news/188379/friday-night-looking-in-fine-form-as-it-inks-trim-production-deal-188379.htmlhttp://www.proactiveinvestors.com/companies/news/188005/friday-night-posts-revenue-of-1mln-in-first-weeks-as-nevada-focused-cannabis-firm-188005.html
Newly formed Las-Vegas focused recreational cannabis firm Friday Night Inc (CNSX:TGIF) posted around US$1mln of revenue and gross profit of $230,714 in the last six weeks of the fourth quarter in its year to July 31, sending shares racing.

It said it's now building on these numbers and will announce first quart results in December this year.

In June this year, the firm announced the purchase of a 91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer - the second firm to get such a licence in Nevada and the very first in Vegas.

It also acquired a 91% stake in Infused Mfg - a company that provides hemp-derived and cannabidiol (or CBD) products.

"We are very pleased to report these revenues for our first six weeks of business as Friday Night Inc, thanks to the exceptional performance of the teams at AMA and Infused."

"We look forward to reporting our continued success and growth milestones to our shareholders," said president and chief executive Brayden Sutton.

Shares on Thursday added 13.95% to C$0.49.

]]>Wed, 29 Nov 2017 15:43:00 -0500http://www.proactiveinvestors.com/companies/news/188005/friday-night-posts-revenue-of-1mln-in-first-weeks-as-nevada-focused-cannabis-firm-188005.htmlhttp://www.proactiveinvestors.com/companies/news/187252/friday-night-moves-closer-to-construction-at-its-new-growing-facility-187252.html
Friday Night Inc (CNSX:TGIF) says the land purchase agreement for its new growing facility has now closed and its design teams are finalising plans ahead of construction.

As previously reported the approval was received on the land use application at a Clark County commissioners hearing on November 8.

In August this year it struck a deal to buy 1.39 acres of land for US$432,000, which includes areas that could be used to grow marijuana.

The acquisition includes a 33,000-square-foot footprint for a building with footings already poured and full perimeter security fences, water hookups for the full sprinkler system throughout the future warehouse and 2,000 amps of power.

It has also secured an estimate from NV Energy to provide an additional 4,000 amps of power, which would support a two-storey cultivation of up to 66,000 sq ft of canopy.

In today's release, the recreational cannabis focused firm also invited people from all over the world visiting Las Vegas, Nevada, to the MJ Biz conference (MJBIZCON) - the world’s largest gathering of cannabis executives and exhibitors each season.

MJBIZCON starts on November 15 and runs until November 17 and is expected to host over 14,000 attendees and has a lineup of 650 exhibitors.

The company owns 91% of Alternative Medicine Association (AMA), a licensed medical and adult-use cannabis cultivation and production facility.

Yesterday, it said AMA had struck a deal to provide cultivation services to another Nevada-licensed facility owned by Harvest Foundation, sending shares soaring.

The facility is already under AMA's management and lied adjacent to the company's current cultivation facility.

Under the deal, AMA will now grow its own proprietary, high-yield strains in the Harvest Foundation facility.

This will provide additional pounds of flower and trim to Alternative Medicine, and will provide Harvest Foundation the most economical means of meeting market demand for its products.

Shares eased over 5% to C$0.34 each.

]]>Tue, 14 Nov 2017 11:20:00 -0500http://www.proactiveinvestors.com/companies/news/187252/friday-night-moves-closer-to-construction-at-its-new-growing-facility-187252.htmlhttp://www.proactiveinvestors.com/companies/news/187158/friday-night-shares-boosted-as-it-increases-production-footprint-in-nevada-187158.html
Friday Night Inc (CNSX:TGIF) has increased its cannabis footprint in the state of Nevada and boosted profit and revenue potential at the same time.

Its production subsidiary Alternative Medicine Association (AMA) has struck a deal to provide cultivation services to another Nevada-licensed facility owned by Harvest Foundation.

READ - Friday Night boosted by Clark County decision for its new building
READ - Friday Night enters into exclusive licensing agreement with MariMed

The facility is already under AMA's management and lied adjacent to the company's current cultivation facility.

"We have been preparing for this agreement which will now allow both companies to significantly advance their respective business plans in the area.

"It will effectively double the canopy space under our control and greatly increase the quantity of our extracts and oil production to supply a growing market," said Mark Zobrist, manager of Alternative Medicine.

Under the deal, AMA will now grow its own proprietary, high-yield strains in the Harvest Foundation facility.

This will provide additional pounds of flower and trim to Alternative Medicine, and will provide Harvest Foundation the most economical means of meeting market demand for its products.

Management believes this agreement will effectively boost revenues and profits for each company.

"We are excited to work with the Harvest Foundation management to achieve the goal of consistent, high-quality harvests from their licensed facility," said Ben Horner, director of operations at AMA.

"We have already populated all their grow rooms with beautiful, mature plants ready to enter the flower stage. We expect our first harvest to be in late December of this year."

It's a bust period for the firm.

Last week, it received the green light from Clark County, the home of Las Vegas, to grow cannabis on its new commercial property.

The approval was received on the land use application at a Clark County commissioners hearing on November 8.

"Shortly after the land purchase agreement is closed, the design team will finalize the building plans and commence construction," the firm said.

Friday Night Inc shares closed Friday up 10.64% to C$0.26 and raced up today in Toronto over 32% to C$0.34.

]]>Mon, 13 Nov 2017 08:15:00 -0500http://www.proactiveinvestors.com/companies/news/187158/friday-night-shares-boosted-as-it-increases-production-footprint-in-nevada-187158.htmlhttp://www.proactiveinvestors.com/companies/news/187038/friday-night-boosted-by-clark-county-decision-for-its-new-building-187038.html
Friday Night Inc (CNSX:TGIF) says its received the green light from Clark County, the home of Las Vegas, to grow cannabis on its new commercial property.

The approval was received on the land use application at a Clark County commissioners hearing on November 8.

"Friday Night Inc management is scheduled to finalize and close the land purchase agreement on Monday, November 13th," it said in a brief statement.

"Shortly after the land purchase agreement is closed, the design team will finalize the building plans and commence construction," it added.

"The necessary building permits were already submitted for and obtained by transferring the old permit numbers, which as a result, has saved valuable time in the permitting process."

The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.

MariMed's Kalm Fusion branded line of cannabis-infused products is all-natural precisely dosed products that let users select the speed at which cannabis therapies are delivered through the body, Friday Night explained.

Alternative Medicine Association (AMA), a Friday Night company, will produce and distribute these and other MariMed products using its proprietary processes and distribute these products to all dispensaries in Nevada.

Additionally, AMA has entered into a separate letter of intent (LOI) with MariMed on behalf of the latter's client, Harvest Foundation, a Nevada cultivation licensee for medical and recreational cannabis, to operate and manage the 10,000-square-foot grow facility, which, as luck would have it, is located adjacent to the current AMA facility in Las Vegas, Nev.

Under the LOI, AMA will manage the Harvest Foundation cultivation and will purchase all of the trim and flower produced at a fixed cost per pound. The trim will be used to produce oil, some of which will be used to infuse the products manufactured for MariMed and the remaining to be used for AMA products.

“MariMed has a reputation for exact dosing delivered in unique, convenient packages for both medicinal and recreational uses. They are perfect for this rapidly expanding market in Las Vegas and throughout Nevada," said Mark Zobrist, managing partner at AMA.

In an unrelated announcement, Friday Night said Cameron Watt, described as having “a talent for developing, launching and managing businesses”, has been appointed executive vice president.

Friday Night said Watt has played a significant role in the transition of several organizations experiencing rapid growth in highly competitive markets.

]]>Fri, 03 Nov 2017 11:11:00 -0400http://www.proactiveinvestors.com/companies/news/186750/friday-night-enters-into-exclusive-licensing-agreement-with-marimed-186750.htmlhttp://www.proactiveinvestors.com/companies/news/185670/friday-nights-ama-expansion-plans-move-step-further-185670.html
Friday Night Inc (CNSX:TGIF) reckons it will start building its commercial building for growing cannabis by the middle of next month (November).

It comes after the group's production subsidiary Alternative Medicine Association (AMA) received the approval of the Sunrise Manor town advisory board' of Clark county, Nevada, under the planning and zoning design review.

It will now be forwarded to the board of county commissioners for final action at their November 8 meeting.

"Once we obtain the county commissioners' approval on Nov. 8, we will finalize the land purchase and anticipate beginning actual construction by mid-November. This is a significant advancement of this project," said Mark Zobrist, manager of Alternative Medicine.

Notably, AMA has already received the necessary building permits to begin construction once the final approvals are in place.

"By transferring the old building permit number, we have effectively shortened the start-up time by at least three months. If all goes as expected, we anticipate completing the first 33,000 square feet of new cultivation space by May of 2018. In a market with short supply, this will result in a significant increase in sales," said president John Goss.

Each warrant will be exercisable to acquire one share for 25 cents for two years.

The company intends to use the net proceeds to expand its growing operations in Las Vegas and for general corporate purposes.

Bruce Campbell, the portfolio manager at StoneCastle Investment Management, said on Monday: "We are excited to be investing in Friday Night Inc.

"The teams in Las Vegas and Vancouver have strong experience in the medical market and are now capitalizing in the fast-growing adult-use market with strong relationships in all verticals.

"We are impressed with their initiatives and partnerships in place already and are confident they will continue to innovate and expand their partnerships in the future."

]]>Thu, 05 Oct 2017 10:58:00 -0400http://www.proactiveinvestors.com/companies/news/185138/friday-night-closes-previous-c1mln-financing-185138.htmlhttp://www.proactiveinvestors.com/companies/news/184939/friday-night-set-to-boost-cash-position-with-c1mln-placing-184939.html
Las Vegas-focused recreational cannabis group Friday Night Inc.(CNSX:TGIF) is set to add C$1mln to its cash position and bring in a new investor - StoneCastle Investment Management.

It is issuing C$1mln worth of convertible debenture units at C$1,000 each unit.

The company has entered into an exclusive licensing transaction with hip-hop artist, Kurupt, one of the most influential hip-hop artists in the business by virtue of his role as executive vice president of Death Row Records.

Death Row was instrumental in the early careers of some of the biggest names in that genre, from 2Pac and Warren G to Dr. Dre and Snoop Dogg.

The agreement is comprised of a two-year, renewable, exclusive manufacturing, sales and distribution license for the State of Nevada. The arrangement allows for cross-marketing from both the Kurupt and AMA brands by each marketing team.

“We are excited to announce our partnership with AMA in Las Vegas. Our goal has always been to provide the best product at the best price with the highest level of integrity and quality. Partnering with AMA gives us the unique opportunity to be able to do just that”, stated a representative for Kurupt.

The Canna hemp line will be expanded to include cannabidiol (CBD) pet products which have begun sales under the name Canna hemp paws, with an initial run of pet tinctures having already sold out.

READ - Friday Night says Bellissima prosecco will be sold in major US grocery chain
READ - Friday Night enjoys busy August as it continues to expand Nevada operations

A topical spray for skin and coats should be ready for sales by the beginning of November, while an edible treat range are currently being formulated and should be ready for sales by January 1 next year.

"The decision to expand into the pet products industry was made after extensive research was conducted on the sector...," said Friday Night.

"Canna hemp paws products will be available nationwide and will directly compete with Veterinarian products of the same caliber, which sell at much higher prices."

Infused has capacity to make 2,000 CBD tincture units a day in their current Canna hemp facilities, it added.

Separately, Friday Night Inc also updated on its land acquisition in Clark County, Nevada, saying its application for its special-use permit has been filed and will be included at a November 8 meeting, when it is expected to be granted final approval.

The updates to the building plans and engineering improvements are in process, and the company expects to have a completed architectural rendering by October 12 this year.

Shares gained 8.33% to C$0.195 each.

]]>Thu, 28 Sep 2017 13:35:00 -0400http://www.proactiveinvestors.com/companies/news/184785/friday-night-shares-lifted-as-it-expands-into-pet-product-industry-184785.htmlhttp://www.proactiveinvestors.com/companies/news/184021/friday-night-says-bellissima-prosecco-will-be-sold-in-major-us-grocery-chain-184021.html
Friday Night Inc (CNSX:TGIF) updated on its alcohol portfolio, saying Bellissima prosecco has been approved to be sold in Publix supermarkets, while Bivi Vodka, a Sicilian craft vodka, has a new distribution partner.

Late last month, Friday Night struck a land purchase agreement for 1.39 acres that includes approved plans to build a 33,000 sq ft building and it is already carrying out due diligence before closing to increase the size of that building to 66,000 sq ft.

Work already done includes hiring an engineer to update the soil analysis report, which is in progress and obtaining a commitment from NV Energy to provide a further 4,000 amps of 480 volt, 3-phase power to the site at an estimated cost of US$162,500.

Last month also saw the group close its C$5.5mln offering, which will help it expand production capacity in Las Vegas.

It expanded its footprint in Nevada with a land acquisition in Clark County, home of Las Vegas, by striking a deal to buy 1.39 acres of land for US$432,000, which includes areas that could be used to grow marijuana.

John Goss, of Friday Night, had said: "This property is a perfect fit to host one or more of Alternative Medicine Association's cultivation licences and it allows us to be in operation in a short period of time.

"Most offsites are already installed at the property, the building plans were submitted but will now be revised to our specifications.

"We are truly excited to expand our cultivation and production capabilities to meet the growing demand for our and our strategic partners' brands which are being so well accepted in this recreational and medical cannabis market."

Friday Night Inc shares lost 2.38% to stand at 20 Canadian cents.

]]>Thu, 07 Sep 2017 10:09:00 -0400http://www.proactiveinvestors.com/companies/news/183619/friday-night-enjoys-busy-august-as-it-continues-to-expand-nevada-operations-183619.htmlhttp://www.proactiveinvestors.com/companies/news/183264/friday-night-expands-land-footprint-in-nevada-183264.html
Friday Night Inc (CNSX:TGIF) has expanded its footprint in Nevada with a land acquisition in Clark County, home of Las Vegas.

The cannabis - focused firm struck a deal to buy 1.39 acres of land for US$432,000, which includes areas that could be used to grow marijuana.

The acquisition includes a 33,000-square-foot footprint for a building with footings already poured and full perimeter security fences, water hookups for the full sprinkler system throughout the future warehouse and 2,000 amps of power.

It has also secured an estimate from NV Energy to provide an additional 4,000 amps of power, which would support a two-storey cultivation of up to 66,000 sq ft of canopy.

John Goss, of Friday Night, said: "This property is a perfect fit to host one or more of Alternative Medicine Association's cultivation licences and it allows us to be in operation in a short period of time.

"Most offsites are already installed at the property, the building plans were submitted but will now be revised to our specifications.

"We are truly excited to expand our cultivation and production capabilities to meet the growing demand for our and our strategic partners' brands which are being so well accepted in this recreational and medical cannabis market."

]]>Fri, 25 Aug 2017 16:59:00 -0400http://www.proactiveinvestors.com/companies/news/183264/friday-night-expands-land-footprint-in-nevada-183264.htmlhttp://www.proactiveinvestors.com/companies/news/182616/friday-night-closes-55mln-debenture-financing-182616.html
Friday Night Inc (CNSX:TGIF) has closed its C$5.5mln offering, which will help it expand production capacity in Las Vegas, it said.

"Management of the company believes that there is an unmet market for our products that we can fill as soon as we can increase production. AMA and Infused continue to shine, and I am beyond pleased with how things are shaping up for the next several quarters and beyond."

Each warrant is exercisable to acquire one share at an exercise price of 35 cents until August 16, 2019.

The convertible debentures bear interest from the date of closing at 10%per year, payable in company shares at a deemed price of 25 cents, semi-annually on June 30 and December 31 of each year and will expire on August 16, 2019.

Friday Night plans to use the net proceeds of the offering for expanding its growing operations in Las Vegas and for general corporate purposes.

]]>Thu, 17 Aug 2017 10:03:00 -0400http://www.proactiveinvestors.com/companies/news/182616/friday-night-closes-55mln-debenture-financing-182616.htmlhttp://www.proactiveinvestors.com/companies/news/182338/friday-night-develops-new-high-cannabinoid-strain-of-pot-182338.html
Friday Night Inc (CNSX:TGIF) has appointed Dr AnthonyTorres, MD, a specialist in the separation sciences of biological molecules, to its board of advisors.

The recreational marijuana producer and distributor said Dr Torres would bring a deep understanding of the cannabis plant and its molecular structure.

“I am very interested in applying traditional laboratory processes to the rapidly developing field of molecular cannabis,” Dr Torres proclaimed.

“I believe that there are many positive applications for the natural benefits of this plant in modern medicine and that it has the potential to help hundreds of thousands, perhaps even millions of people,” he added.

Meanwhile, Friday Night provided an update on the genetics breeding program at its 91% owned subsidiary, Alternative Medicine Association (AMA).

AMA has spent several months cross breeding existing strains of cannabis in the hope of creating an improved cannabis product that is exclusive to AMA,

One such strain that it has developed has been dubbed 'Naughty Cookies', as it is a cross between the high-tetrahydrocannabinol (THC) 'Girl Scout Cookies' strain with the high-yielding 'Juggernaut' strain.

This week the company received the first test results from the strain, and they showed the cannabinoid content was higher than any strain AMA had seen in the last three years, and the THC content came back as 34.9%.

AMA must have had an inkling the results would be good, because it cultivated more than 70 of these plants that will be flowered during the next growing cycle; so far the plants are yielding in excess of two pounds per light of dried flower.

“This gives us a competitive edge in a market which we now control,” declared Ben Horner, AMA's director of operations and the man behind the creation of the new strain.

“When new cultivators come on board, we will be the only producer with this strain. I feel it will inevitably become a favorite in Las Vegas,” he said.

With most popular cannabis brands now wanting a presence in the critical Las Vegas market, AMA is attracting new brand-expansion conversations daily, and Krypted is the fourth brand to be added to Nevada-focused AMA's exclusive manufacturing and distribution network.

The Krypted team will be in Las Vegas next week for the kick-off meeting and to prepare for the initial production run, Friday Night revealed.

AMA has already obtained state approval for their logo and product names and the first sales should occur by 15 September.

Terms include making AMA the exclusive manufacturer & distributor in Nevada for an initial term of three years, renewable annually after that, with a 15% production royalty.

Krypted, a big name in the California vaping scene, is providing AMA with all packaging and marketing support.

Intriguingly, Friday Night said AMA would launch an apparel and merchandise brand on 15 August, so if you've ever wanted to wear a pair of AMA-branded socks, now's your chance.

AMA said it has recruited an industry lifestyle branding and marketing veteran to “rebrand and establish a comprehensive lifestyle approach that will expand and maximize AMA's presence within the Vegas market”.

Friday Night sees AMA as a lifestyle and a global brand that will transcend into multiple business verticals that support AMA's core business.

“We look forward to our next fiscal year that began on August 1st, 2017, and the new challenges and rewards this year will bring us. With everything going on, we are confident that we will continue to outperform," said Mark Zobrist, the chief executive of AMA.

SuiCideGirls Cannabis was launched in 2017 in California and is sold in around 200 dispensaries in the state.

Notably, SuicideGirls is the largest alternative community on the internet, with over 6.7mln Instagram followers.

A growing Vegas market

Friday Night is busily trying to tap into a growing market in Las Vegas, known as Sin City, where recreational cannabis became legal on July 1 this year.

A representative of SuicideGirls said today: "With the success of what we have seen with the SuicideGirls Cannabis brand in California, and Nevada recently going recreational, Las Vegas is the obvious next move for SGC.

"SuicideGirls has a huge presence in Las Vegas, and we are thrilled to partner with the outstanding Friday Night team to help extend our brand to our first new market outside of California."

A 15% production royalty..

Under the terms of the letter of intent (LOI) Friday Night, through subsidiary and grower Alternative Medicine Association LC (AMA), will be the exclusive manufacturer and distributor of all SGC products In Nevada in exchange for a 15% production royalty on gross sales.

Friday Night will also issue 1mln shares, and have the option to create a SuicideGirls vape lounge in Las Vegas.

It will also have the right of first refusal for the exclusive licence for the Canadian provinces of British Columbia and Alberta, once new regulations permit operations there.

In February this year the drink began distribution in Chicago and throughout the Midwest with the brand's exclusive distributor in Illinois.

In April, the Bellissima prosecco marketing expanded to California, Washington and Hawaii and it is now is rapidly adding retailers across the country.

According to data, in the USA, prosecco sales are growing more than four times as fast as champagne sales, while in 2015, 400 million bottles of prosecco were sold worldwide, compared with 300 million for champagne.

The product is now entering the final stage of the formal approval process with the Liquor Control Board of Ontario (LCBO) and once that is complete represents the most significant entry point into the Canadian marketplace.

Brayden Sutton, chief executive at Friday Night, said: "With Christie Brinkley's powerful social media presence building awareness in concert with targeted digital, social and promotional campaigns, we see tremendous opportunities for significant growth in sales of Bellissima prosecco throughout North America and internationally.

]]>Fri, 21 Jul 2017 12:00:00 -0400http://www.proactiveinvestors.com/companies/news/181296/bellissima-prosecco-brand-growing-sales-says-friday-night-181296.htmlhttp://www.proactiveinvestors.com/companies/news/181285/friday-night-s-production-subsidiary-making-great-strides-in-nevada-pot-market-181285.html
Las Vegas - focused cannabis group Friday Night Inc (CNSX:TGIF) has updated on the rapid progress of its Nevada- based subsidiary and pot producer Alternative Medicine Association, which is working to keep up with demand for the product.

As previously reported, July 1 this year was a key date in the state's calendar as it became legal for adults over 21 to buy recreational pot in the state.

A monumental week ...

The week from July 17 was 'monumental' for AMA, said Friday Night, as on July 17 it received its cultivation and production licence for recreational sales from the tax department.

A day later, it entered into a distribution agreement with Blackbird Logistics - one of only two of Nevada's cannabis distributors.

By July 19, it had excessive back orders of recreational products waiting to go to retailers.

Significantly, AMA is currently now in the process of finalising a contract with a premium chocolate line to manufacture around US$12,000 of bulk distillate every week and is extracting over 400 pounds of dried cannabis to fill disposable vape cartridges for a well-known hip-hop artist.

Vader collaboration doing well ...

AMA's Vader collaboration is working 'exceptionally well', it added and the firm expects this one partnership to yield in excess of US$30,000 per month going forward.

Ben Horner, operations manager of AMA, said: "With the increased demand and the current dispute between the State of Nevada and the Independent Alcohol Distributors, Blackbird is one of only two available options for transporting recreational cannabis.

"We have signed an exclusive transport agreement, which will allow us to now meet the backlog of demand for recreational products our customers are seeking.

"Our first recreational deliveries will begin this weekend and we are very pleased to be one of the very first to contract for recreational delivery services."

Shares rose 4.55% in Toronto to 23 cents

]]>Fri, 21 Jul 2017 09:40:00 -0400http://www.proactiveinvestors.com/companies/news/181285/friday-night-s-production-subsidiary-making-great-strides-in-nevada-pot-market-181285.htmlhttp://www.proactiveinvestors.com/companies/news/181085/cannabis-group-friday-night-adds-industry-expert-to-advisory-board-181085.html
Friday Night Inc (CNSX:TGIF) said it has appointed an industry veteran to its advisory board as it continues to look to expand its Las Vegas operations.

Drew Milburn was a consultant to Heath Canada on the rollout of its new licensed producer model, now called the ACMPR (access to cannabis for medical purposes regulations) as well as a consultant to many licence applicants in Canada.

He opened his first retail dispensary in North Hollywood in 2008 and in 2009 he was successful in obtaining the first licence in the city of Colorado Springs to sell, cultivate and extract cannabis.

He has also been heavily involved in the licensing and operations process in Arizona, and he has left his mark now in 12 of the 29 medicinally legal states in the US.

Brayden Sutton, Friday Night's chief executive, said: "Having worked with Mr Milburn in various capacities over the past four years, there is not a single individual I can think of in North America that has the expertise or the experience to better help guide our company as we expand."

Due to recent changes, adults over 21 in the state of Nevada can now buy up to one ounce of cannabis, or one-eighth of an ounce of cannabis-infused edibles and concentrates.

The firm reckons the market will thrive.

Nevada's population is just under 3mln residents, leading to a relatively small resident consumer market, said Friday Night.

These products are free of tetrahydrocannabinol, which is the physiologically active component in cannabis preparations-derived from the hemp plant.

The cannabidiol (CBD) extracts are made with real cannabis terpenes formulated from the popular Tangerine Dream and Diamond OG strains produced by another Friday Night subsidiary, Alternative Medicine Association.

“Infused's out-of-the-gate success, coupled with the recent record sales at Alternative Medicine Association, further re-enforces the quality of the company's two core assets in Las Vegas, Nevada, Friday Night said.

“We are humbled by the daily feedback from our customers on how our products have improved their quality of life. These individual success stories are the fuel that is driving our brand forward," said Morgan Rebentisch, general manager of Infused.

Each warrant will allow the holder to buy one share for 35 cents per warrant for two years following the closing date.

Canaccord can also increase the size of the offering by $2.5mln.

The company plans to use the net proceeds to expand its growing operations in Las Vegas, and for general corporate purposes. The closing of the offering is expected to occur on or about July 31 this year.

Brayden Sutton, Friday Night's chief executive, said: "Given the better-than-expected initial demand for adult recreational use in Las Vegas, we are currently looking at alternatives that would allow us to expand our production capabilities."

Last week, the group revealed that it was looking for larger premises in Las Vegas so it can keep up with demand for cannabis.

The company’s subsidiary, Alternative Medicine Association (AMA), had a record month in June as Las Vegas retailers stocked up on product ahead of the legalization of the sale of recreational marijuana in Nevada.

]]>Tue, 11 Jul 2017 09:58:00 -0400http://www.proactiveinvestors.com/companies/news/180703/friday-night-set-to-bring-in-75mln-as-demand-better-than-expected-for-recreational-cannabis-180703.htmlhttp://www.proactiveinvestors.com/companies/news/180555/friday-night-looking-to-expand-production-capability-as-las-vegas-customers-go-potty-180555.html
Friday Night Inc (CNSX:TGIF) is looking for larger premises in Las Vegas so it can keep up with demand for cannabis.

The company’s subsidiary, Alternative Medicine Association (AMA), had a record month in June as Las Vegas retailers stocked up on product ahead of the legalization of the sale of recreational marijuana in Nevada.

AMA earned $902,000 in gross revenues for the month of June, 2017, up from $291,000 the previous month.

“Going legal” has been a good move for Nevada in terms of tax revenues, with sales of US$3mln in the first four days of the new era bringing in US$500,000 of tax revenue.

Friday Night said it expects demand for dried cannabis and derivative products to continue to grow and consequently is looking around for bigger facilities for AMA.

"Timing is everything and we feel that every day counts in this sector as it evolves so quickly,” said Brayden Sutton, chief executive officer of Friday Night.

“American roots, but global growth; we have a first-mover advantage in Las Vegas that will only last so long. While we are elated with the increasing performance of AMA, we are also in a constant state of evaluating additional accretive opportunities to further our brand around the world," he added.

Shares in Friday Night were up 19% at C$0.25 in lunchtime trading.

]]>Fri, 07 Jul 2017 14:07:00 -0400http://www.proactiveinvestors.com/companies/news/180555/friday-night-looking-to-expand-production-capability-as-las-vegas-customers-go-potty-180555.htmlhttp://www.proactiveinvestors.com/companies/news/180387/friday-night-off-to-a-good-start-in-nevada-as-recreational-pot-law-comes-in-180387.html
Friday Night Inc (CNSX:TGIF) said it had a busy night on July 1 - the day it became legal to buy recreational pot in Nevada - home of Las Vegas.

The state now permits adults over 21 to buy and possess up to one ounce of cannabis after the new law was approved last November.

An estimated two-thirds of all purchases will come from tourists visiting the state.

Friday Night highlighted reports suggesting many of the 44 licensed retail outlets in Nevada had "customers lined up around the corner," - 39 of them right in the centre of Las Vegas, where its subsidiary, the producer Alternative Medicine Association (AMA) is based.

Mark Zobrist, director at AMA, said: "We expected a good turnout to kickoff the July 1 adult-use celebration, but lines were still exceeding 100 people six hours later at some locations.

"We were making deliveries to stock retail stores until 11 pm Friday night. Our grower commented that, at this rate, the state could be out of cannabis by the end of the month."

Nevada joins Alaska, Colorado, Oregon and Washington with a new recreational law and regulation for this adult-use cannabis - 29 states already have a medicinal program, with more states expected to join soon.

Colorado alone represented over $1bn in sales in 2016, which generated over $200mln in tax revenue for the state.

State Senator Tick Segerblom, considered to be the "godfather of the marijuana movement" in Nevada, considers the new legal cannabis market to be the most heavily regulated industry in the whole state, expected to generate well over $60mln in tax revenue over the next two years.

Friday Night shares eased 6% to $0.235.

]]>Wed, 05 Jul 2017 08:57:00 -0400http://www.proactiveinvestors.com/companies/news/180387/friday-night-off-to-a-good-start-in-nevada-as-recreational-pot-law-comes-in-180387.htmlhttp://www.proactiveinvestors.com/companies/news/180154/friday-night-could-score-big-as-nevada-recreational-cannabis-sales-come-on-stream-180154.html
From tomorrow (July 1), Nevada - the home of Las Vegas - will join Alaska, Colorado and Washington in that people there can legally buy cannabis.

Sales of recreational cannabis will be availaible in the state for adults aged 21 and over.

The retail sales will be subject to a 10% sales tax, which officials in Nevada expect to generate more than $60mln in the first two years.

Last year in Colorado, one of the country’s first test markets for recreational marijuana, the market pulled in $1.3 billion in revenue and nearly $200 million in tax revenue.

One firm set to benefit is newly formed Friday Night Inc (CNSX:TGIF), which this week told investors it had received the conditional go-ahead to grow recreational cannabis in Nevada from Saturday.

Earlier this month, a judge ruled that only alcohol distributors could be licensed to transport recreational marijuana and Nevada immediately approved the five alcohol distributors who had applied to transport the recreational marijuana.

Mark Zobrist, director of Friday's 91% subsidiary Alternative Medicine Association (AMA), said: "This is a tremendous opportunity for the company. To be in Las Vegas and witness the beginning of adult use of cannabis, combined with the already strong demand for medicinal purposes, is very exciting.

"The local and state officials are to be congratulated for staying the course and doing it in a tightly regulated, professional manner."

T-5 days until the end of cannabis prohibition in Nevada!
See you in Vegas July 1st. #LegalizeIt #cannabis pic.twitter.com/nCcxB1JxLH

The firm today gave an update on the current landscape in Clark county, Nevada, which is the home of Las Vegas - a prime target for the group.

The company has also submitted its business licence application and is waiting for an appointment with the zoning department in Clark county as the final step to receive its recreational permit, it said.

Earlier this month, a judge ruled that only alcohol distributors could be licensed to transport recreational marijuana and Nevada immediately approved the five alcohol distributors who had applied to transport the recreational marijuana.

Friday Night said: "Since they have not handled this specific product before, they are now scrambling to get their facilities and equipment qualified to be ready by July 1.

"There may be minor deficiencies in meeting the initial surge in demand for getting product from the cultivators to the dispensaries but it will be ironed out and the flow will be handled as it has in other states that have done similar."

However, Friday said it did not expect any problems or significant delays.

"The company continues to produce high-quality flower and extracts and looks forward to the projected increase in revenues from recreational sales."

"To be in Las Vegas and witness the beginning of adult use of cannabis, combined with the already strong demand for medicinal purposes, is very exciting.

"The local and state officials are to be congratulated for staying the course and doing it in a tightly regulated, professional manner."

Shares eased 3.23% to 30 cents each.

]]>Wed, 28 Jun 2017 14:30:00 -0400http://www.proactiveinvestors.com/companies/news/180000/friday-night-receives-conditional-approval-to-grow-recreational-pot-in-nevada-180000.htmlhttp://www.proactiveinvestors.com/companies/news/179998/cannabis-group-friday-night-excited-about-huge-commercial-opportunity-in-las-vegas-179998.html
Las Vegas may be known as 'Sin City' but newly formed company Friday Night Inc (CNSX:TGIF) is looking to exploit those vices into something beautiful.

It is aiming to tap into the huge commercial opportunity that is the city's 'Strip' which attracts 48 million visitors a year, as Nevada's recreational cannabis permit is about to come into force (July 1).

For the initiated, the strip is around a 7km stretch of boulevard laden with hotels, clubs and casinos.

Nevada highly anticipated..

"Nevada is one of the most anticipated markets to date," says Friday Night's chief executive, the investor and entrepreneur, who has been involved in the evolving cannabis space for ten years - Brayden Sutton.

The group is already very familiar with the Canadian market, which is highly regulated and does not have a recreational component, and the firm sees its move as a break into the US market, and further afield.

Friday Night already has a competitive advantage as it has bought a 91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer - the second to get such a licence in Nevada, the very first in Las Vegas. This is key because only licensed medical producers will be able to apply for recreational licenses.

AMA already has sales of around US$ 200,000 per month and holds both cultivation and production licenses, so Friday Night will hit the ground running.

AMA's current product suite includes various high-quality flower, pre-rolled joints and many other items including their very popular concentrate brands.

Its second Nevada asset - also having acquired a 91% stake - is Infused Mfg - a company that provides hemp-derived and cannabidiol (or CBD) products, which are already completely legal and therefore 50-State friendly. It has achieved growing sales to date, and Sutton, said theoretically, products like theirs could find their way into major US retail chains that already carry similar products.

They have also just moved into a 5,000 square foot state-of-the art processing facility to meet the increasing demand.

"We've got tremendous upside on both these assets," said Sutton, adding that these deals were just two of around 30+ the firm was evaluating. "Best-of-breed only", says Sutton.

Valuation potential driving excitement...

The valuation potential, he says, is what's key to driving excitement around the stock.

Canada is potentially a couple (or more) years away from a full-on recreational market, yet the companies there are already priced for that post-legalization environment, reckons Sutton.

Whereas somewhere like Nevada is already going legal in mere days and the assets here are trading at incredibly reasonable valuations.

This presents a far more attractive opportunity for an investor, one perhaps who missed the run in Canada from 2013 through 2016, he suggests.

The firm has raised just US$6.6mm, has no debt so is in a great position to scale up the business.

Sutton is no stranger to the cannabis sector and previously served as the executive vice president for Supreme Pharmaceuticals Inc (FIRE.V) during its inception and roll-out.

He has also held executive positions with both public and private companies operating in the cannabis industry, with known names such as Aurora Cannabis and Invictus MD.

Capital markets veteran Brian Keane is also on the board.

He has more than 18 years' of capital markets, investing and consulting experience in over 100 emerging growth companies in the US, Canada, Caribbean and Asia, transacting over $2bn worth of deals.

Its recently-acquired subsidiary Alternative Medicine Association (AMA) has struck a production and distribution licensing agreement with Gilla Enterprises Inc (Gilla) to launch the latter's new portfolio of cannabis concentrate products in Nevada, US

READ - TGI Friday Night as Quikflo Health changes its name

"This is an excellent opportunity for us to broaden our product offering in preparation for the upcoming implementation of recreational marijuana in the State of Nevada,” said Mark Zobrist, chief executive of AMA.

“Our team at AMA is very impressed with the quality of the Gilla product offering and we look forward to a mutually-successful business relationship.”

Gilla manufactures, markets and distributes E-liquid for use in vaporizers and develops vapor and cannabis concentrate solutions for high terpene vape oils, pure crystalline, high performance vape pens and other targeted products.

It aims to be a global leader for the most efficient and effective vaping solutions for nicotine and cannabis related products.

Friday Night Inc owns and controls both hemp and cannabis based operations in Nevada with plans to expand both within and outside of the state.

Through AMA , it owns and operates a licensed medical marijuana cultivation and production facility in Las Vegas.

It also produces its own line of cannabis-based extracts including shatter, live resin, wax and flavored vape oils and clear distillates and manufactures other third-party brands of similar products.

In all, Friday Night issued 32.75mln shares (after a stock consolidation that halved the number of shares in issue) and paid US$3.5mln in cash for the stakes, and also took on US$1.59mln of the acquired companies’ debt.

AMA was the first medical marijuana business licensed in Las Vegas, and has current sales of around US$ 200,000 per month. It holds both cultivation and production licenses. Under the current rules in Nevada, only licensed medical cannabis producers can currently apply for recreational licenses.

The Infused products company has developed several products using hemp and cannabidiol (or CBD) infusions, and prepared mixes to which tetrahydrocannabinol (or THC) can be added by State legal facilities. The company has achieved growing sales to date.

In conjunction with the acquisitions, Brayden Sutton has become the chief executive officer of Friday Night and has been named to the board of directors.

Sutton previously served as an executive vice president for Supreme Pharmaceuticals Inc. (CVE:FIRE) and has also held executive positions with both public and private companies operating in the cannabis industry.

Capital markets veteran Brian Keane has also joined the board.

“We are excited to enter into one of the most highly anticipated new markets in this sector. With a proven corporate team and some of the best operators in the space running the facilities, the company is perfectly positioned as a first mover in Clark County,” Sutton said.

“I could not be more pleased with how far we've come and with the opportunities that lie ahead for TGIF shareholders,” he added.

]]>Fri, 16 Jun 2017 09:00:00 -0400http://www.proactiveinvestors.com/companies/news/179396/tgi-friday-night-as-quikflo-health-changes-its-name-179396.htmlhttp://www.proactiveinvestors.com/companies/news/178022/quikflo-health-brings-in-698552-from-third-placing-closing-178022.html
QuikFlo Health Inc (CVE:QF) has completed its third closing of the previously announced placing, bringing in $698,552 for working capital and future acquisitions.

It issued over 9.3mln units at 7.5 cents each, with each unit consisting of one share and one-half a share purchase warrant.

These entitle the holder to purchase one additional share for 15 cents for two years from closing.

The warrants will contain a forced conversion provision if the shares trade at 25 cents or more for 10 trading days.

Quikflo shares are currently halted from trading on the TSX Venture Exchange

Any future material acquisitions by the company, including any acquisitions involving the proceeds of the private placement, will be subject to the approval of the exchange.